Finance
UK's Sainsbury's sells travel money business to Fexco
Published by Global Banking & Finance Review®
Posted on July 30, 2025
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on July 30, 2025
2 min readLast updated: January 22, 2026
Sainsbury's sells its travel money business to Fexco, marking a strategic shift towards retail. Fexco will continue services under Sainsbury's brand.
LONDON (Reuters) -British supermarket group Sainsbury's has agreed to sell Sainsbury's Bank's travel money business to Fexco Group, it said on Wednesday, continuing its withdrawal from banking services.
Sainsbury's strategy under CEO Simon Roberts is to focus on growing its core retail operation.
The travel money business operates online and through 220 bureaux inside Sainsbury's stores. It has about 10% of the UK market.
Sainsbury's said Fexco will provide foreign exchange services under the Sainsbury’s brand with Sainsbury's receiving an ongoing share of revenue and rental income. No financial details were disclosed.
The deal follows last year's sale of Sainsbury’s Bank’s personal loan, credit card and retail deposit portfolios to NatWest Group, the disposal of its cash machines business to NoteMachine and the sale of the Argos Financial Services cards portfolio to NewDay Group.
The supermarket group said Sainsbury’s Bank has also struck a deal for Allianz UK to offer replacement car and home insurance policies to existing Sainsbury's Bank customers.
Earlier this month, Sainsbury's, Britain's second largest grocer after Tesco, reported better-than-expected first quarter sales. Its shares are up 11% so far this year.
(Reporting by James Davey; editing by Sarah Young, Kirsten Donovan)
Fexco Group is acquiring Sainsbury's travel money business.
Sainsbury's travel money business holds about 10% of the UK market.
Sainsbury’s Bank has struck a deal for Allianz UK to offer replacement car and home insurance policies to existing customers.
Sainsbury's strategy under CEO Simon Roberts is to focus on growing its core retail operation.
Sainsbury's has sold its personal loan, credit card, and retail deposit portfolios to NatWest Group, as well as its cash machines business to NoteMachine.
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